Building Steady Construction Cash Flows With Digital Tools

PYMNTS.com | September 25, 2019

The $1.8 trillion construction industry has not yet had its moment of digital reckoning. Recent data indicates that construction firms typically rank in the bottom percentage of U.S. industries investing in digitization, falling just above agriculture and hunting. Construction firms looking to remain profitable must ensure proper cash flows and complete projects on time, but old school practices can get in the way. Project managers and construction workers often have to manage their funds, operating budgets and other related expenses themselves, and losing track of any of these components can increase the time to project completion and final costs.

Spotlight

There is no free solution for UNIX / Linux that provides high-performance remote application access / virtual desktop access over high latency connections. This is particularly true for engineering applications, as latency can negatively impact their operating effectiveness.

Spotlight

There is no free solution for UNIX / Linux that provides high-performance remote application access / virtual desktop access over high latency connections. This is particularly true for engineering applications, as latency can negatively impact their operating effectiveness.

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ENGINEERING TECH

Edge Impulse Raises $15 Million in Series A to Enable a Data-Driven Engineering Revolution with Machine Learning

Edge Impulse, | May 19, 2021

Edge Impulse, the world's leading development platform for machine learning (ML) on edge devices, announced today the completion of a $15 million Series A investment round led by Canaan Partners, with participation from Acrew Capital, Fika Ventures, Momenta Ventures, and Knollwood Investment Advisory. This funding will help the company achieve its goal of democratizing machine learning for millions of developers and engineers working on billions of edge devices. Due to power, bandwidth, and cost constraints, 99% of sensor data is currently unused. Edge Impulse allows this data to be analyzed effectively using edge-optimized machine learning, resulting in smarter products and enhanced privacy. Developers and engineers will use the Edge Impulse framework to build useful datasets, then quickly develop and deploy custom machine learning models to any edge system, from battery-powered sensors to Linux-based GPUs capable of operating actuating pneumatics and robotic arms. With a growing list of silicon partners including Arm, Nordic Semiconductor, NVIDIA, Silicon Labs, STMicroelectronics, Microchip, Arduino, Raspberry Pi, Himax, and Eta Compute, the company's platform is trusted by thousands of developers and businesses looking to utilize sensor data to bring intelligence to the next generation of smart devices. To date, the platform has produced over 23,000 projects and 26 million branded data samples across a variety of verticals, including industrial, infrastructure, wearables, and wildlife conservation, with a global developer group on track to hit 100,000 by 2022. Machine learning allows for a data-driven engineering approach to solving problems that can have an impact in all industries. Using machine learning for data-driven engineering in the Internet of Things will not only create better systems but will also give life to a whole new class of experiences. Surprisingly, thanks to platforms like Edge Impulse, it would become a lot easier to modify, upgrade, and handle. IoT will eventually live up to its original goals and turn consumer products, automotive, agriculture, and engineering from the ground up, thanks to smarter brains and learning capabilities on devices. About Edge Impulse Edge Impulse is the leading embedded machine learning software platform, with over 23,000 ML projects in use around the world. We're on a journey to have the best machine learning development experience on edge devices for sensors, audio, and computer vision at scale. We make highly optimized ML deployable to a wide range of hardware from MCUs to CPUs, from getting started in under five minutes to MLOps in production.

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ENGINEERING TECH

Ouellet Partners with BIMsmith to Launch New BIM Tools for Architects and Engineers

Ouellet | January 17, 2022

Ouellet Canada Inc., an international manufacturer and distributor of electric heating products, has announced a partnership with BIMsmith, the leading product research platform for building professionals, for the development of new Building Information Modeling (BIM) tools for architects, engineers, and other construction professionals. The partnership involves the creation of data-rich digital models of Ouellet products that integrate seamlessly with BIM design workflows used by building professionals globally. Each product model contains key data to represent geometric, electrical, and performance capabilities of each product, streamlining design workflows and providing building professionals with key data early in the design process. Each product model is designed to integrate natively with Autodesk Revit, the leading architectural design software worldwide. The partnership also involves the publishing of Ouellet products on BIMsmith Market, the leading cloud platform used by architects and engineers to conduct building product research, placing Ouellet in front of a global audience of building design professionals. "For more than half a century, Ouellet has prioritized the continued success of its customers and stakeholders wherever possible,Our new BIM tools are yet another way that we can support not just architects and engineers, but every contributor throughout the entire building design process." -Owen Suchar, US National Sales Manager at Ouellet Ouellet provides architects and other building professionals with a tremendous depth of product and industry expertise," said Benjamin Glunz, CEO at BIMsmith. "We are excited to partner with Ouellet to help expand their support of architecture and engineering professionals everywhere. About Ouellet Ouellet Canada, headquartered in l'Islet on the south shore of the St. Lawrence River in Quebec, designs, manufactures, distributes, and markets standard, custom-made, and distinctive electric heating products. Learn more about Ouellet Canada at www.ouellet.com. About BIMsmith BIMsmith®, the leading cloud-based building product discovery and selection platform, cultivates global business-to-business relationships between building industry professionals and building product manufacturers. Through direct integration of real product data into the BIM workflow, BIMsmith continues to shape the future of building science technology, placing its clients at the forefront of BIM innovation while addressing the true needs of industry professionals.

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ENGINEERING TECH

Hexagon announces strategic partnership with H2U to digitalise green hydrogen plant construction

Hexagon | February 22, 2022

Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, announced a strategic partnership agreement with The Hydrogen Utility Pty Ltd (H2U), a leading Australian hydrogen infrastructure developer, to deliver best-in-class digital asset management solutions in support of the global green hydrogen revolution. The partnership brings together Hexagon's deep expertise in integrating industrial facility digital ecosystems with H2U's green hydrogen and green ammonia proprietary plant designs. The ability to create engineering and operational digital twins, aligned to emerging global standards for information management, is critical to supporting the rapid deployment scenarios required for green hydrogen to deliver deep decarbonisation in the industrial and energy sectors. Hexagon's PPM division will support H2U with an integrated digital twin platform, which will manage every stage of the asset lifecycle—from engineering and design through finance, construction and operation—to improve efficiency and reduce risk. Hexagon's solutions will be implemented across H2U's planned pipeline of high-quality industrial green hydrogen infrastructure initiatives in Australia and New Zealand, leading to new industrial energy assets that drive economic growth and long-term sustainable impact. The pipeline includes first of their kind projects already underway in Australia—the Eyre Peninsula Gateway project in South Australia and the H2-Hub Gladstone project in Queensland, leading to new industrial energy assets that drive economic growth and long-term sustainable impact. "We're proud to partner with H2U to create meaningful impact in the world's energy transformation with the move to cost-effective green hydrogen production. Our solutions will provide a common environment to manage seamless and effective collaboration across H2U's technology partner ecosystem, The partnership also provides a strategic collaboration opportunity for R-evolution, our business venture focused on running profit-driven green-tech projects where Hexagon's technology can be applied. The collaboration with H2U will help accelerate global proliferation of the full breadth of our hydrogen offerings." -Hexagon President and CEO Ola Rollén For further information, please contact: Maria Luthström, Head of Sustainability and Investor Relations, Hexagon AB, +46 8 601 26 27, ir@hexagon.com Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, media@hexagon.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/hexagon/r/hexagon-announces-strategic-partnership-with-h2u-to-digit

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